Internet Hotel Marketing has become Essential in Hotel Asset Management
January 11, 2021|Hotel Marketing
Internet Hotel Marketing: an Essential Part of Hotel Asset Management
In this industry, it is important to get the highest return on property investment. Internet marketing can play a crucial role in reaching that objective.
More than just focusing on the day-to-day grind of running a hotel, it is a must to have a real estate perspective in overseeing the business. By considering marketing at an ownership level, and not just at a management level, the hotel is actually marketed and sold for the same reasons that the owners invested in it, such as the location, and other unique selling points.
Traditionally, many hotels market their business by putting out their brand first, rather than showcasing what their properties actually have to offer. This approach is especially convenient for hotel chains because employing generic brand messages can easily unify multiple properties, to fit a single marketing strategy. This is typically observed in franchise properties where they capitalize on their brand rather than the hotel itself and its features. Admittedly, this approach can argue that hotels are managed more independently, and not at the national level. Certainly, this approach won’t work for every single hotel out there, but it brings up practical concerns such as how high the overheads are, franchise fees and corporate marketing contributions. A higher return of investment can only be achieved by renegotiating these costs or by operating independently.
At this time and age, it is common knowledge that investing in a property and using traditional marketing strategies alone to generate a steady income is just not enough.
Internet marketing is key in hotel assets management. If used correctly, it can remove overhead costs associated with traditional marketing strategies such as printing, mailing and creation of different physical promotional materials. This strategy can be very effective in reducing marketing costs by removing overhead costs associated with traditional marketing strategies such as printing, mailing, and other physical promotional materials.
However, even when these traditional costs have been removed from the equation, it is the revenue managers duty to take extra measures that they don't creep back to budget over time as this can backfire and result in overspending.
Check out our blog at bezla.com to discover some more helpful resources on how to creatively market hotels.
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